Binance Trading Volume Hits $3.5 Trillion Surpassing Nasdaq By 10% & Doubling NYSE

Binance recorded $3.51 trillion in trading volume, 10% higher than Nasdaq and over double NYSE’s $1.76 trillion. Strategic Memecoin trading boost and $GOAT contract launch fueled its dominance, with $7.7 billion USDT inflow during U.S. election week. BNB trades at $670.42, reflecting strong ecosystem growth and confidence in Binance's innovative BNB Chain Fusion upgrade.

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Pardon Joshua
Pardon Joshua
Pardon Joshua is a seasoned crypto journalist with three years of experience in the rapidly evolving blockchain and digital currency space. His insightful articles have graced the pages of reputable publications such as CoinGape, BitcoinSensus, and CoinGram.us, establishing him as a trusted voice in the industry. Pardon's work combines in-depth technical analysis with a keen understanding of market trends, offering readers valuable insights into the complex world of cryptocurrencies.

Binance has achieved a remarkable milestone in the financial markets, recording an unprecedented trading volume of $3.51 trillion during the period from October 7th to November 15th, 2024. 

This extraordinary performance has positioned the cryptocurrency exchange ahead of traditional financial powerhouses, surpassing NASDAQ’s $3.26 trillion volume by approximately $246 billion (10% higher) and more than doubling the New York Stock Exchange’s (NYSE) volume of $1.76 trillion. 

SOURCE: TokenInsight

The gap between Binance and its closest cryptocurrency competitor, Coinbase, is even more striking, with Binance’s volume being 16 times larger than Coinbase’s $218.48 billion, demonstrating its dominant position in the digital asset trading space.

Strategic Shift and Market Impact

A significant factor in Binance’s volume surge appears to be its strategic pivot towards embracing Memecoin trading, marked by the launch of the $GOAT contract in late October 2024. 

This shift has produced dramatic results, as exemplified by the performance of tokens like $Pnut, which achieved a single-day contract trading volume of $7.432 billion on November 13th, representing 39% of ETH contract trading volume that day. 

SOURCE: ai_9684xtpa

The platform’s decision to launch 11 popular Memecoins since October, despite potential reputational risks, has contributed to its market dominance, with users increasingly noting that “miracles only happen in Binance.” 

During the U.S. election week, Binance led all exchanges with a USDT inflow of $7.7 billion, contributing to a total industry inflow exceeding $20 billion.

Also Read: Binance Debuts On WhatsApp With Official Channel Verified By Meta

Technological Advancements and Infrastructure Development

Concurrent with its trading volume success, Binance has been implementing significant technological improvements to its ecosystem. 

The most notable development is the BNB Chain Fusion, which integrates Beacon Chain features into the Binance Smart Chain (BSC). 

This upgrade is part of the comprehensive BEP333 framework, a three-phase transition plan designed to streamline Binance Coin’s architecture by consolidating its dual-chain structure into a unified system. 

The initiative aims to enhance scalability, operational efficiency, and ecosystem functionality, demonstrating Binance’s commitment to technical innovation alongside its market expansion.

BNB Token Performance and Market Position

The platform’s success is reflected in the performance of its native token, BNB, which has shown strong market performance with current trading at $670.42. 

The token has demonstrated robust growth with a 6.65% increase in 24 hours and a 7.46% rise over seven days. 

SOURCE: Coingecko BNB Price Chart

With a circulating supply of 150 million tokens, BNB’s market capitalization has reached $97.86 billion, underscoring investor confidence in Binance’s ecosystem and its strategic direction. 

The substantial trading volume of $2.47 billion in 24 hours further indicates strong market activity and continued interest in the platform’s native asset.

Also Read: BNB Chain Selects 35 Projects for MVB Season 8, DeFi and AI Projects Dominate

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